SECURITIES MARKET TRADER 3
Career Family: SECURITIES MARKET TRADER
Securities Market Trader 3 is one of New Jersey's state civil service classifications.
The stated bar is a bachelor's degree, but candidates can swap in added experience for the diploma.
How to get hired
- Hiring for Securities Market Trader 3 follows standard NJ Civil Service procedures. Check the official specification and the NJ CSC jobs portal for the current process.
Read the official specification at NJ Civil Service Commission.
Official job specification
The text below is the official specification published by the New Jersey Civil Service Commission. The plain-language summary and analysis above are derived from it by NJ Civil Service Navigator.
Definition
Under the general supervision of the Trading Officer, in the Division of Investments, Department of the Treasury, has primary responsibility for the purchase and sale of long-term debt obligations of corporations, short-term and long-term obligations of the United States Government Agencies, and other government and corporate securities including foreign securities, in a manner most advantageous to the state. Supervises lower level Securities Market Traders. Has primary responsibility for implementing trading strategy, including the timing, size and price of equity to be purchased or sold, and selection of broker. Implements trading section policy and procedures. Has primary responsibility for executing special investment programs; Supervises staff and work activities. Prepares and signs official performance evaluations for subordinate staff; does related work as required.
Examples of work
Individually or as a member of a trading team: Responsible for the purchase and/or sale of securities, including but not limited to, equities, international securities, certificates of deposit, commercial paper, and United States government/government agency securities in a manner advantageous to the interest of the State, through negotiation of transactions and commissions. Plans implements the trading strategy for the purchase or sale of a security including the timing of transaction, amount of offering, price of security and selection of broker. Analyzes market and economic trends occurring in United States and international financial markets and advises senior trading section staff about the probable market action of securities over both the near term and intermediate term. Confers with senior trading section staff on proposed actions to maintain the quality of the investment portfolios and improve the rate of return under changing market conditions both near term and intermediate term. Implements portfolio changes within the frame of specific programs approved by the Director, Division of Investments. Monitors and assesses the short term market performance of securities, changes in market conditions, and evaluates the relative attractiveness of various investment options. Selects brokers, negotiates, and ensures the payment of securities transaction commissions. Supervises the work operations and/or functional programs and has responsibility for employee evaluations and for effectively recommending the hiring, firing, promoting, demoting, and/or disciplining of employees. Responsible for administering special investment programs including, but not limited to, the small capitalization program, the roll program, and the international investment program. Analyzes and evaluates the reliability of sources of information in the course of making trading decisions. Responsible for performing transactions involving international securities. Develops and maintains external communication with brokers, dealers and other representatives of the financial community, as sources of information on conditions in United States financial markets. Monitors, evaluates, and interprets financial market activity, and changing market conditions and consults with senior trading unit staff on the presence of profitable trading opportunities. Assists in developing plans for the implementation of investment policies established by the State Investment Council. May assume the duties of Supervising Securities Market Trader as conditions warrant. Monitors unusual or extraordinary events occurring in financial markets and advises senior investment staff. Analyzes the impact of international financial market and economic. Confers with senior trading section staff on alternative securities transaction options and strategies. Evaluates the relative attractiveness of alternative financial products as investment options. Recommends swaps or strategies to take advantage of financial market inefficiencies. Coordinates securities transactions with trading section staff. Makes on-the-spot evaluations of the market performance of individual securities in the course of developing trading strategy. Prepares and supervises the preparation and updating of the schedules of securities transaction commissions for use by Director, Deputy Director and the State Investment Council. Responsible for implementing trading section policies and procedures. As directed, maintains up-to-date data on common stocks on the approved list of the State Investment Council and on general stock market trends. Maintains and supervises the maintenance of files of schedules of new issues. As required, prepares for the division's use, summaries of group accounts participating in equity issues to be offered. Prepares and supervises the preparation of detailed equity reports for use by the Equity Committee. Prepares, distributes, and updates official legal documents, and records of securities transactions. As directed, obtains the Deputy Attorney General's approval of legal papers covering purchases of securities. Prepares and supervises the preparation of detailed correspondence in the course of official duties. Maintains and supervises the maintenance of daily records of securities transactions, commission negotiations, and other essential correspondence, records, and files. May be required to learn to utilize various types of electronic and/or manual recording and information systems used by the agency, office or related units.
License
Appointees will be required to possess a driver's license valid in New Jersey only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essential duties of the position.
Knowledge, skills and abilities
Knowledge of the brokerage firms engaged in the securities business, including those located in New York, Philadelphia, and New Jersey. Knowledge of national and international institutional trading practices, and methods of negotiating securities prices, and commissions. Knowledge of the preparation, analysis, and interpretation of varied types of financial statements, including profit, and loss, and balance sheet statements. Knowledge of interest rates, comparative, and relative yields, maturities, spreads, bid, and ask price and current terminology peculiar to investment practices. Knowledge of diverse financial instruments, including, but not limited to stocks, bonds, options, futures, money market instruments, mortgages, international currency hedging, and their interaction with each other. Knowledge of the current methods and procedures of underwriting syndicates, joint accounts in both primary, and secondary markets. Knowledge of the current practices of investment banking and of the procedures, rules, and regulations of the New York Stock Exchange, the NASD and SEC which affect trading activities. Knowledge of the various types of securities trading in the market place, including, where applicable; their seniority, redemption features, sinking funds, prepayment provisions, voting rights, preemptive rights, and tax status, together with the effect of these features on market prices. Knowledge of performance measurement and performance assessment methods, techniques, and requirements. Knowledge of national and international financial markets, and the impact of changes in market conditions on short and intermediate term investment activity. Knowledge of internal and external source of information on conditions in financial markets and specialized financial products. Knowledge of the terminology and processing requirements involved in foreign securities investment. Knowledge of trading strategies employed to take advantage of changing market conditions. Knowledge of the impact of international financial markets on United States trading activity. Ability to comprehend, interpret, and apply the laws of New Jersey and the policies of the State Investment Council relating to the purchase and sales of securities. Ability to review, analyze, and appraise securities of varied types and information concerning stock market transactions, including offerings, bids, and other data. Ability to establish and maintain cooperative working relationships with brokers; the representatives of banks and investments houses; and with those groups and individuals engaged in the security business and/or concerned with the work of the Division of Investment. Ability to assign and instruct employees and supervise the performance of their work. Ability to identify and respond to subtleties in market conditions in the course of carrying out securities trades. Ability to place orders for and to arrange for the sale of securities. Ability to monitor the short term market performance of securities being purchased or sold. Ability to compare and develop recommendations on alternative investment options and strategies. Ability to analyze and evaluate national and international financial market and economic trends and their impact on trading activity. Ability to recognize profitable trading opportunities in the financial markets. Ability to select brokers to carry out securities transactions and to negotiate securities transaction commissions. Ability to evaluate the reliability of information from brokers and other sources in the course of developing trading strategy. Ability to prepare detailed and technical correspondence. Ability to maintain accurate records of securities transactions, including the names of vendors, prices paid, the particular accounts involved, yields obtained, commission paid, and all other attendant detail. Ability to learn to utilize various types of electronic and/or manual recording and information systems used by the agency, office or related units. Ability to read, write, speak, understand, or communicate in English sufficiently to perform the duties of this position. American Sign Language or Braille may also be considered as acceptable forms of communication. Persons with mental or physical disabilities are eligible as long as they can perform essential functions of the job with or without reasonable accommodation. If the accommodation cannot be made because it would cause the employer undue hardship, such persons may not be eligible.
Note
The examples of work for this title are for illustrative purposes only. A particular position using this title may not perform all duties listed in this job specification. Conversely, all duties performed on the job may not be listed. Applicants must meet one of the following or a combination of both experience and education. Thirty (30) semester hour credits are equal to one (1) year of relevant experience. Eight (8) years of professional experience with a public or private organization engaged in institutional activity as a practicing securities market trader involving and negotiating transactions of financial instruments, which shall have been within the past eight (8) year period, including or supplemented by eighteen (18) credit hours of the following subjects: Accounting, six (6) credit hours; plus twelve (12) additional credit hours of any combination of additional courses in Finance; Money, Credit, and Banking, Statistics, Economics, or Investments. OR Possession of a bachelor's degree from an accredited college or university, including or supplemented by eighteen (18) credit hours of the following subjects: Accounting, six (6) credit hours; plus twelve (12) additional credit hours of any combination of additional courses in Finance; Money, Credit, and Banking, Statistics, Economics, or Investments; and four (4) years of the above-mentioned professional experience. Experience as a registered representative for an individual is not acceptable for this position. Experience involving Retail Investment and Retail Trading will not be acceptable. "Professional experience" refers to work that is creative, analytical, evaluative, and interpretive; requires a range and depth of specialized knowledge of the profession's principles, concepts, theories, and practices; and is performed with the authority to act according to one's own judgment and make accurate and informed decisions.